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Regime: Mixed. The VIX is elevated at 18.86, but US yields are drifting lower and the DXY is softening, suggesting some risk appetite is returning after yesterday’s tech sell-off. Today’s market themes: Tech sector bifurcation and earnings rotation Energy price volatility amid supply shifts USD intervention watch on JPY weakness The…
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Where we are: The DXY is trading around 101.37, down slightly on the session but holding firm after yesterday’s dip. We’ve seen some consolidation after yesterday’s broad-based dollar weakness, with the index still poised for a weekly gain. The overnight range has been tight, and we’re currently sitting just above the…
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Where we are: S&P 500 futures are trading just below the 7417.25 level, a marginal 0.08% dip on the session, while the cash index holds a slight 0.04% gain at 7360.50. This leaves us trading within the overnight range, but crucially, still below yesterday’s New York close, suggesting a cautious undertone…
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Where we are: Gold is trading up 0.90% on the session, currently quoted at $4084.0 on COMEX. This move sees bullion clawing back some of yesterday’s losses, finding a bid as US real yields continue their downward trajectory. We are trading above yesterday’s New York close, but still well within the…
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Where we are: EUR/USD is trading at 1.1386, up 0.08% on the session, clawing back some of yesterday’s losses. The pair is consolidating just above the 1.1350 support level, which held overnight. We’re seeing a tentative bid emerge as US yields pull back, but the momentum is fragile ahead of US…
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Where we are: The Nasdaq 100 futures are trading down 0.82% at 29479.75, with the cash index at 29249.38, reflecting a negative start to the New York session. This follows a broadly weaker tone across Asian and European markets overnight, with major indices like the Nikkei and DAX seeing significant declines.…
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Where we are: GBP/USD is trading flat at 1.3197, largely treading water as we head into the New York open. Overnight price action has been range-bound, with the pair consolidating just above the 1.3180 support level and holding its ground relative to yesterday’s New York close. The market appears to be…
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Where we are: USD/JPY is trading around 161.75, a fractional dip from yesterday’s levels but still firmly entrenched near multi-decade lows. The pair has seen a tight intraday range so far, largely consolidating after a volatile week. We’re holding above the 160.00 intervention zone, but the lack of sustained upside momentum…
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Where we are: The Dow Jones futures are trading down 0.23% at 52221, mirroring the cash market which sits at 51803. This marks a slight pullback from yesterday’s highs, but the index remains well within its overnight range and above the prior New York close. The VIX is ticking up slightly,…
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Where we are: USD/CAD is trading at 1.4190, flat on the day but holding near recent highs. The pair has been grinding higher through the European session, consolidating gains from yesterday’s move. We’re watching the 1.4200 psychological level closely, with a break above likely to extend the move towards the 1.4250…
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Where we are: Bitcoin is trading just shy of the 60,000 handle, currently quoted at 59787, up 0.13% on the day. This leaves it broadly flat against yesterday’s New York close, consolidating within a tight intraday range. Overnight action saw a slight dip before a modest recovery, indicating a lack of…
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Where we are: The FTSE 100 is trading at 10508, down 0.21% on the day, struggling to hold ground as global tech weakness permeates European markets. Overnight, futures pointed lower, and the London close yesterday saw a similar sentiment, with the index ending down 0.17%. We’re currently trading just above the…
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Snapshot: AUD/USD is trading at 0.6898, down 0.19% on the day, pressured by the Reserve Bank of Australia’s hawkish hold stance. With inflation still above target and the RBA explicitly retaining the option to hike further, any significant CPI downshift is needed before a pivot to cuts. Today’s US macro calendar…
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Snapshot: WTI Crude is trading down 3.67% at $69.28, pressured by accelerating shipping transits through the Strait of Hormuz and news of Saudi Arabia ramping up exports. The key domestic driver remains the significant drawdown in US crude inventories, which fell by 6.09 million barrels last week, a stark contrast to…
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Snapshot: The Nikkei 225 plunged 4.15% to 69,361 overnight, driven by a brutal selloff in technology stocks. Persistent concerns over AI infrastructure spending and a sharp drop in SoftBank Group, following reports of OpenAI’s IPO delay, are the primary catalysts. Tokyo’s core inflation accelerating for the first time in eight months…
